The Fiscal Theory of Money as an Unorthodox Financial Theory of the Firm

Ramon Marimon
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Ramon Marimon: European University Institute

Chapter 3 in Monetary Theory as a Basis for Monetary Policy, 2001, pp 72-95 from Palgrave Macmillan

Abstract: Abstract There are three issues in which everyday macroeconomic life and economic theory seem to be quite apart. The first is the zeal with which governments in Europe and elsewhere pursue fiscal discipline as almost a precondition for price stability. One would think that governments were trying to implement a well-established theorem in monetary theory, but while the need to co-ordinate fiscal and monetary policies is a well-understood principle,1 such a theorem has been missing.

Keywords: Monetary Policy; Asset Price; Price Determination; Dividend Policy; Monetary Model (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1007/978-1-4039-3961-6_3

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